There is the unanimous go-ahead from the bodies of the Interbank Deposit Protection Fund (Fitd) and from the Fitd Voluntary Scheme for Bper’s second offer to take over 80% of Carige. According to Radiocor, the outlay for the mandatory consortium led by Salvatore Maccarone will be 530 million for the recapitalization of the institute, half of what Bper initially asked for.
The second offer made by the Emilian bank is therefore confirmed. According to financial sources, the Fitd obtains guarantees that the Carige disputes will not produce other effects for the seller. The 5 million nominal residual Carige subordinated loan, which will be purchased by Bper, will be paid out to the voluntary scheme.
The Fitd confirms the agreement. “The statutory bodies of the Fitd unanimously approved a preventive intervention in favor of Banca Carige, pursuant to article 35 of the Statute, for an amount of 530 million in the form of a capital investment by the Fitd in favor of Carige as part of the transaction carried out by Bper and which provides, among others, the purchase at symbolic price of the investment held by Fitd and the voluntary scheme in Carige (approximately 80%) and of the subordinated loan issued by Carige in 2018 for a consideration of 5 million, equal to the nominal value “.
The Fund chaired by Salvatore Maccarone adds that «the transaction is in line with the Fund’s statutory provisions. The signed sale agreement governs the executive activities envisaged in the coming weeks with the aim of reaching the completion of the sale transaction by 30 June 2022. With this transaction, at the end of a competitive and transparent procedure, the Fund has given concrete implementation of its commitment to support the Bank, to protect depositors and all stakeholders ».
Bper has signed the contract for the acquisition of 80% of Carige from the Interbank Deposit Protection Fund and the Voluntary Intervention Scheme. The bank communicates this in a note specifying that the contract follows the conditions already present in the binding offer presented in January: Bper will pay a fee of 1 euro for the acquisition of the entire stake held by the selling shareholders (Fitd and Svi) and is provision is made for the payment of a contribution of 530 million euros to Carige by the Fitd to the capital account at the closing of the transaction.
The closing, once the necessary authorizations have been obtained, is expected by 30 June “in order to allow Bper Banca to benefit from the conversion of the Deferred Tax Assets for Carige’s tax losses into tax credits”.
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